Here we are: the biggest yearly spending event in retail is here off, with holiday shopping efforts in full force. But while consumers battle with their checkbooks, retailers are batting for consumers. You’ve likely noticed that the news is scattered with stories about big box stores closing while online retail giants, such as Amazon, continue to grow. In fact, consumers spent a whopping $126 billion online in the 2018 holiday shopping season.

An NPR poll brings insight to the online versus brick-and-mortar war that has ensued, featuring the top motivating factor to shopping online: speed (quickly followed by convenience). When you think about physically going to a store to shop, these factors are often diminished by one major element: parking. But what if retailers could leverage technology to both decrease the time shoppers spend searching for a space and provide a better customer experience? Could this help push customers to return to in-store shopping?

Our customers think so, based on the following benefits:

Speed

Research shows that finding a parking spot at a shopping center can take up to 12 minutes. Cleverciti’s smart parking technology can change that. Through a combination of real-time detection of available parking spaces and digital signage guiding drivers to open spots, the time required to park can be reduced by 30% or more. In a shopping mall with 1,000 parking spaces, this improvement can result in annual revenue gains of more than $4 million.

A positive impression

As the first and last memory of a shopping experience, streamlined parking is key to creating a satisfied customer. Take it from us: In July, Cleverciti finished installing its smart parking technology at Unibail-Rodamco-Westfield’s Ruhr Park, Germany’s largest open-air shopping center with more than 2,600 parking spots. Known for their devotion to innovation and service, Ruhr Park’s executive team wanted to deliver extraordinary service, convenience, and a hassle-free parking experience for its clients.

Creating rewards

In addition to streamlining parking, Cleverciti’s newest technology, the Cleverciti Card, can be used to reserve parking spots in specified areas. Imagine VIP customers being able to reserve a space in advance, which not only maximizes their time spent shopping, but also provides additional data to the retailer regarding the most loyal and top-spending customers, allowing salespeople to know in advance of the arrival of their best customers. For years, brands have created loyalty programs with rewards, bonuses and discounts, and now parking can become part of these efforts.

Utilizing data

Cleverciti’s solution is more than just sensors. Using edge-computing, artificial intelligence and the Internet of Things (IoT), the technology creates a unified and intelligent platform that provides customer and behavior data to retailers — something retailers are always craving. From the location of each parked car, to parking violations, to how long each shopper spends in the store, this information can help retailers learn about customer behavior, measure effects of marketing campaigns and plan more effective traffic patterns.

Reduced footprint

Consumers are starting to use purchasing power to get their messages and opinions across to businesses and brands, and we’re seeing this prominently when it comes to reducing emissions and global warming. A report by Nielsen found that 66% of consumers are willing to pay more for sustainable goods, so it is likely that they will also pick a shopping center that has actively chosen to reduce its carbon footprint.

Smart parking technology directly relates to this effort: when shoppers spend less time searching for an open space, they’re releasing fewer emissions into the air and therefore cutting down on pollution. Cleverciti’s mission to creating a sustainable environment can be key to showing consumers that retailers care about more than just the bottomline.

Brick-and-mortar retailers are at a tipping point when it comes to winning back the hearts of consumers, but this effort is all about providing a better experience for the consumer than their digital counterparts. Cleverciti’s smart parking technology can create a more efficient, rewarding and sustainable experience for shoppers while also providing mission-critical information to retailers to continually improve the guest experience.

To learn more about how Cleverciti’s technology can help your business, connect with our teams here.

We analyzed 634 smart parking solutions for smart cities. Cleverciti, Smart Parking, Parkwise, Stanley Robotics, and PayBySky are our 5 picks to watch out for. Learn more in our Global Startup Heat Map below.

Our innovation analysts recently looked into emerging technologies and up-and-coming startups working on solutions for smart cities. As there is a large number of startups working on a wide variety of solutions, we decided to share our insights with you. This time, we are taking a look at 5 promising smart parking solutions.

Heat map: 5 top smart parking startups

For our 5 top picks, we used a data-driven startup scouting approach to identify the most relevant solutions globally. The Global Startup Heat Map below highlights 5 interesting examples out of 634 relevant solutions. Depending on your specific needs, your top picks might look entirely different.

Which companies develop the other 629 smart parking solutions?

CLEVERCITI – SMART SPACE-MONITORING PARKING SENSORS (SSMPS)

With a growing population in cities, parking lots often have a lack of free spaces. By using smart space-monitoring parking sensors and generating real-time data on parking-spot occupancy, drivers can navigate to the nearest open spot. Data collected from SSMPS can also be used for further optimization of city traffic and parking pricing policies. The same information can be used to maximize revenue by detecting overstays and directing more drivers to underused spaces. Cleverciti from Germany offers a sensor solution that systematically gathers information on available and occupied parking spaces in real-time. Each sensor covers up to 30 parking spaces, and they can be mounted on lamp posts, buildings or masts without requiring roadworks. It generates updated data every 3 seconds and has a night time mode as well – without the need for additional lighting or infrared.

SMART PARKING – SMART PAYMENT FOR PARKING

Drivers often get stuck in parking lots, chasing pay stations or spending a vast amount of time searching for change. Cashless payment solutions are reducing the time for payment and make the procedure more convenient for Smart City citizens. Parking lot owners and city utilities are benefiting from automatic mobile payments too, as they save money on parking pay stations. The single-click-to-pay technology developed by Smart Parking from Belgium supports over 250 worldwide payment methods that are used to substitute payment terminals on parking lots. Their API can be used with any existing Parking Management System.

PARKWISE – REAL-TIME PARKING GUIDANCE SOFTWARE

Searching for free parking spots oftentimes causes additional movements and traffic on the streets. Drivers leave one parking area and start looking for another one, without even knowing if parking slots are available. With the usage of the Internet of Things (IoT) and real-time parking guidance software, drivers are able to communicate with each other and find empty parking spots faster, thus reducing the chance of possible traffic jams. The US-based company Parkwise develops a phone application using artificial intelligence (AI), which connects drivers through their smartphones, so they are helping each other to find empty parking spots easier. Furthermore, when a driver is about to leave their parking spot, the application notifies other drivers about the free parking space.

STANLEY ROBOTICS – AUTOMATED VALET PARKING

In large crowded spaces, like airports or shopping malls, people more likely to spend a huge amount of time searching for free parking spaces. Automated valet parking systems allow drivers to leave their vehicles in a special spot, where a valet take over and park the vehicle tight, in an efficient way. Stan, the robotic valet, by the French company  Stanley Robotics, is able to control all types of cars, at a maximum length of 6m, and can easily handle a 3-ton load. The robot is equipped with artificial intelligence which allows it to optimize parking lot space. Stan moves autonomously and adapts to different obstacles that might be in its way.

PAYBYSKY – PARKING BY SATELLITE

Municipal authorities face the problem of privately owned vehicles that are occupying public spaces. One way to resolve this issue is to use accurate satellite vehicle positioning algorithms and a built-in database of parking locations, time, prices, and rules including exceptions. The UK-based PayBySky’s satellite services are starting and stopping parking transactions automatically, so drivers only pay for the minutes they use. As a virtual, cloud-based parking payment system, PayBySky is easily implemented by Smart City authorities to control parking revenue and collect parking data.

WHAT ABOUT THE OTHER 629 SOLUTIONS?

While we believe data is key to creating insights it can be easy to be overwhelmed by it. Our ambition is to create a comprehensive overview and provide actionable innovation intelligence for your Proof of Concept (PoC), partnership, or investment targets. The 5 startups showcased above are promising examples out of 634 we analyzed for this article.

Want to see how smart parking can work for you? Book a demo now: